RECESSIONS, INFLATION AND ECONOMIC GROWTH

ECO1RIG

2020

Credit points: 15

Subject outline

In Recessions, Inflation and Economic Growth, you will get to know the economy as a whole. You will apply simple models to better understand the driving forces of phenomena such as inflation, unemployment, economic growth, foreign debt, and the current account deficit; and discover about their effects on our prosperity and wellbeing. Importantly, you will explore the effectiveness and desirability of policymakers' responses to various economic situations via monetary and fiscal policy. For example, you will discuss whether and when should the central bank change the interest rate, whether the government should run surpluses or deficits, and many other real world relevant questions.

School: La Trobe Business School (Pre 2022)

Credit points: 15

Subject Co-ordinator: Jan Libich

Available to Study Abroad/Exchange Students: Yes

Subject year level: Year Level 1 - UG

Exchange Students: No

Available as Elective: No

Learning Activities: N/A

Capstone subject: No

Subject particulars

Subject rules

Prerequisites: N/A

Co-requisites: N/A

Incompatible subjects: ECO1PPB OR ECO1IMA

Equivalent subjects: N/A

Quota Management Strategy: N/A

Quota-conditions or rules: N/A

Special conditions: N/A

Minimum credit point requirement: N/A

Assumed knowledge: N/A

Learning resources

Principles of Macroeconomics

Resource Type: Book

Resource Requirement: Prescribed

Author: Stonecash, Libich, Gans, King, Byford and Mankiw

Year: 2018

Edition/Volume: 7th Edition

Publisher: Cengage

ISBN: N/A

Chapter/article title: N/A

Chapter/issue: N/A

URL: N/A

Other description: N/A

Source location: N/A

Career Ready

Career-focused: No

Work-based learning: No

Self sourced or Uni sourced: N/A

Entire subject or partial subject: N/A

Total hours/days required: N/A

Location of WBL activity (region): N/A

WBL addtional requirements: N/A

Graduate capabilities & intended learning outcomes

Graduate Capabilities

DISCIPLINE KNOWLEDGE AND SKILLS

INQUIRY AND ANALYSIS - Creativity and Innovation

INQUIRY AND ANALYSIS - Critical Thinking and Problem Solving

INQUIRY AND ANALYSIS - Research and Evidence-Based Inquiry

Intended Learning Outcomes

01. Present an argument, both orally and in writing, to demonstrate an understanding of various economic methods and concepts within the context of the macroeconomy

02. Find information through independent research and use it to analyse changes in the macroeconomy relating to national income, cost of living and labour markets

03. Critically reflect on and apply introductory macroeconomic concepts and theories as they apply to given tasks using creative problem-solving

04. Differentiate between monetary and fiscal policies, and discuss their implications for economic stability and growth

05. Apply (orally and in writing key models of macroeconomics to contemporary national and international macroeconomic problems in order to propose policy options and to perform evaluations of those policies

Melbourne (Bundoora), 2020, Semester 2, Day

Overview

Online enrolment: Yes

Maximum enrolment size: N/A

Enrolment information: N/A

Subject Instance Co-ordinator: Jan Libich

Class requirements

LectureWeek: 31 - 43
One 2.00 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

TutorialWeek: 31 - 43
One 1.00 hour tutorial per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Assessments

Assessment element	Comments	Category	Contribution	Hurdle	%	ILO*
Quizzes (in total 500 words equivalent)A series of quizzes.	N/A	N/A	N/A	No	15	SILO1, SILO2, SILO3, SILO4, SILO5
One 2-hour final examination (2,000 words equivalent)Held during examination period.	N/A	N/A	N/A	No	50	SILO1, SILO2, SILO3, SILO4, SILO5
Open-ended assessment (2,000 words equivalent in total)Ten (10) problem sets and tutorial participation, due throughout semester	N/A	N/A	N/A	No	35	SILO1, SILO2, SILO3, SILO4, SILO5